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Search Results 0 to 8 of about 9 (some duplicates have been removed)
CNN
Jul 17, 2010 1:00pm EDT
produces goods at a fraction of the price that we can here in the u.s. in part because of the way it values its currency. peter moricci is an economist and professor. you say that we either get china to play fair or we're headed for a depression. >> absolutely. if china doesn't play fair, there's just not a demand for what americans make. businesses need customers and capital. the customer side, there's just not enough demand for what americans make because we spend so much in china. it undervalues its currency by 40% or 50%. either we're going to grow very slowly or we'll tank. but we're not going to recover quickly enough to get unemployment below 9%. >> for another take, let's turn to richard quest host of cnn quest means business. last year the trade imbalance was $227 billion. that sounds like a gap we need to close, but china produceses goods a lot more cheaply which means folks like me and everyone else in america get to pay less for things. so what's wrong with that? >> jessica, it's very simple. the day you are prepared to pay more for the t-shirt on your back and the shoes on your
CNN
Jul 18, 2010 3:00pm EDT
produces goods at a fraction of the price than we can here in the u.s. in part is the way it values its currency. he is an economist and professor at the maryland school of business. peter, let's get right to it. you say we either get china to play fair or we're headed for a depression. >> absolutely. if china doesn't play fair, there is not enough demand for what americans make. to create jobs, businesses need customers and capital. the customer side, there is just not enough demand for what americans make because we spend so much in china and it's not just its cheap labor. it underdefines its currency by 40%. either we're going to grow very slowly or we're going to tank, but we're not going to recover quickly enough to generate jobs. >> let's turn to richard quest who is host of cnn's "quest hee means business." $220 billion sounds like a gap we need to close, but china produces goods a lot more cheaply which means folks like me in america gets to pay less for things, so what's wrong with that? >> jessica, it's very simple the the day you are prepared to pay more for the t-shirts on y
CNN
Jul 10, 2010 1:00pm EDT
on the spending side and have big deficits going into a financial crisis which has positioned the u.s. so well? >> i guess my view is we've just had this experiment in spending stimulus. the biggest experiment in american history with $800 billion spent. and it was that we all now know that it has been a failure. it didn't create jobs. >> that's completely untrue. we don't know that at all. it didn't create -- it wasn't big enough to -- it wasn't big enough to end the recession, but we don't know the -- imagine had we not had that stimulus, don't you think the which i would be even worse? >> no i think we'd be much better off today if we hadn't done the spending. all we've got this exchange -- >> seriously? >> yeah, the spending just created a much larger gap and it's basically i think made businesses in a hungered down environment. we know what worked. if you look at the book that i wrote,ered down environment. we know what worked. if you look at the book that i wrote,kered down environment. we know what worked. if you look at the book that i wrote, the history shows when we cut tax rates tha
CNN
Jul 11, 2010 3:00pm EDT
deficits going into a spending crisis which has position ld the u.s. so well? >> i guess my view is we just had this experiment in spending stimulus, the biggest spending experiment with over $800 billion spent which we all know was a failure. it didn't create jobs. >> that's completely untrue, actually. we don't know that at all. it wasn't big enough to end the recession, but we don't know the counterfacts. imagine if we wouldn't have had that stimulus, don't you think the economy would have been even worse? >> no, i think we would be better off if we hadn't done the spending. >> seriously? >> the spending just created a much larger debt and it's basically made businesses in a hunker-down environment. we know what works. if you look at the book i wrote, "the end of prosperity," the history in the last 40 years shows when we cut the tax rate, that's when the economy grows. it grew during the kennedy taxes -- >> it grew during the clinton era as well. >> but don't forget that bill clinton cut the capital gains tax rate, barack obama is talking about raising it. >> candy, let's get back to yo
CNN
Jul 3, 2010 1:00pm EDT
in the president's budget. so that was kind of a head fake at the g-20 for the u.s. it is what happens in the next ten years and how difficult it is for the president to ask for more domestic spending saying i'm cutting things longer term. this is a tricky line to watch. thank you both so much. talk about power steering, why electric cars and affordable cars could mean no more gas stations for you. >>> car maker testla went on the market this week. it is the first american ipo maker since ford in 1976. testla is about to have competition with nissan and chevy rolling out models this fall. cnn alison's cassa investigates. >> it is running. >> reporter: silent on start-up. they are soon to be at a dealer near you. electric cars. add executive, mark fabel, couldn't resist. >> reporter: what made you buy it? >> it is fun to drive. it is extremely fast. the fastest car i've ever driven. >> reporter: with a list price of over $100,000 the tesla is beyond reach for most. if more drivers go from the pump to the plug, will power grids withstand the energy drain? >> if you buy an electric vehicle and so
CNN
Jul 31, 2010 1:00pm EDT
might start investing or hiring people. >> there's two types, particularly for the u.s. chen things get bad the economy snaps back to where they were before the recession. bad is followed by robust. optimistic are sort of hoping that the past to the u.s. is one of the feature. there's the pessimist i might be one and diane too. a lot of unemployed are long-term unemployed. they're losing skills and market. as that starts to happen they start to being disenfranchised. and when the growth returns they may not be ready to take those new jobs. this is what we learned in europe in the 1980s, 1990s. the unemployment remained very high for a decade after a serious recession. so i think the key to getting a decade rate is getting long-term unemployed back to work. >> that's going to be the goal and the discussion going on throughout the election. that's what you're going to be hearing from the administration and never else running. we'll talk with you both again. thank you for joining us. justin wolfers is a associate professor of business and diane swonk of mesiro financial. let's talk about t
CNN
Jul 25, 2010 3:00pm EDT
into the country to go to college. she's had no luck even though she was raised here in the u.s. and graduated from an american high school. but first, time for "your money." >>> the most sweeping overhaul of the financial system since the great depression is now the law of the land. welcome to "your money." i'm ali velsh. christine is off this week. democrats gave the president what he wanted and a few republicans helped out, too. but could these policy victories ultimately cost the congressional democrat the mid-term elections in the fall? let's bring in the most political team on television. candy crowley, chief political correspondent and host of "state of the union." ed henry, or senior white house correspondent and paul stalter, our direpolitical director. senator mitch mcconnell, this is his take on president obama's policies and achievements so far. listen to this. >> job cycling taxes, regulations, government intrusion. these appear to be the three pillars of every democratic legislative effort. they are also the three things lawmakers can do that are guaranteed to kill more jobs. >> candy
CNN
Jul 24, 2010 1:00pm EDT
of societal shift. who knows. >>> stay with me. one u.s. car company is doing something no car company has even done. can be part of it. i'll tell you about it when we come back. but first brings us the story of a nonprofit touring company in new york city facing its biggest cash crunch in 18 years. >> if you happen to be staying in the center of the world -- >> i know. >> reporter: they're trying to change the way people see new york city. today's agenda, showing a canadian couple the brooklyn bridge and downtown manhattan. >> this city is constantly changing. >> reporter: they are volunteers for big apple greeters. a program that matches locals with out-of-towners for an insider's peek at the city. the program is thriving but its finances are not. lynne brooks founded the company 18 years ago to combat the city's negative image. she says times have never been tougher. >> the recession really has put us at a critical juncture of perhaps going out of business. we are now trying to raise $300,000 by september. >> reporter: if the money does not come through, what happens to the greeters pro
Search Results 0 to 8 of about 9 (some duplicates have been removed)